The Chief Executive Officer of Pakistan Mortgage Credit Guarantee Company and former Chief Executive Officer of Pakistan Mortgage and Finance company Dr. Mohammed Salem has advised Nigerian National Assembly to make law that will define what is affordable housing.
Salem made this known during an interactive session, on Monday with housing Development advocacy Network, in a programme designed to x-ray the Pakistan Housing sector.
“ similar to Nigeria we have federal ministry of housing that is responsible for policy formulation for the country ” Salem stated
Reacting to success story so far as the chief executive officer of pakistan Mortgage Credit guarantee company and former Chief Executive Officer of Pakistan Mortgage re-finance Company, the Central Banker reiterated his landslide record of being the initiator of the first policy that guide the housing finance regulation in Pakistan which affords banking sector to lending funds to commercial banks following the housing provision regulation established
“ I facilitated the training of housing finance bankers in 2008 which has helped financial banks to come into housing sectors and in turn increase the GDP of the country through those initiatives”.
“ the standard set has helped in the provision of affordable houses to various interested individuals”.
“ mortgage refinance company has a positive impact as it give cheaper loans to commercial bank” he added
The Central Banker, while describing Nigerian housing sector to be ahead of Pakistan, he disclosed, that Nigeria has more housing finance company compare to Pakistan who he disclosed has only two housing finance company.
Salem reiterate his desire for collaboration between Pakistan and Nigerian stakeholder as he was quoted saying
“ we can support each other in the area of establishing mortgage and SME guarantee company as it will help commercial banks and all stakeholders involve in the housing sectors”
Salem added that, for Nigeria as a democratic Nation to achieve more success in Housing sector that the Nation’s legislators must define affordable housing in terms of income, cost, price value, flat, apartment or house so to have clear directions.
